Which of the Following Is True

Multiple Choice

Which of the following is true?

A) All bankrupts must first be insolvent.
B) Bankruptcy requires the debtor to be at least $1000 in debt and have committed an act of bankruptcy.
C) A bankrupt is never insolvent and an insolvent is never bankrupt.
D) Bankruptcy is the procedure to wind up the creditor's affairs,paying debtor's and,in some cases,punishing the debtor for their behavior.
E) Bankruptcy requires a court order of insolvency prior to the court order of receivership.